Saudi Basic Industries Corporation (SABIC) signed on February 8, 2006, a Letter of Intent (LOI) with the US Shaw Stone & Webster for the engineering, procurement and construction of a High Density Polyethylene (HDPE) plant at the YANSAB affiliate, Yanbu, Saudi Arabia.
Eng. Abdulrahman Al-Fageeh, President YANSAB, signed the LOI for YANSAB. Mr. Ebrahim Fatemizadeh, President – Energy & Chemicals signed the LOI on behalf of the Shaw Stone & Webster in the presence of Mr. Mohamed Al-Mady, SABIC Vice Chairman & CEO.
Mr. Al-Mady said, “I expect that YANSAB will go on-stream by 2008 with an annual capacity of 1.3 million metric tons per annum (mtpa) of Ethylene; 400,000 mtpa of Propylene; 770,000 mtpa of Ethylene Glycol; 500,000 mtpa of Linear Low Density Polyethylene (LLDPE); 400,000 mtpa of High Density Polyethylene (HDPE); 400,000 mtpa of Polypropylene; 100,000 mtpa of butene-1 and butane-2; 250,000 mtpa of Benzene, xylene and toluene compound. I believe that this large annual capacity will further enhance SABIC's position among the world's largest petrochemical companies and strengthen its competitive capabilities in the global markets.
“YANSAB is a model of integration among SABIC industries and symbol of mutual cooperation between the government and private sectors.”